Global SQUID Sensor Market Outlook Highlights Major Opportunities by 2021

Posted by Fred Williams on March 17th, 2021

Global SQUID Sensor Market: Introduction

A SQUID (Superconducting Quantum Interference Device) is an identical sensitive magnetometer used for measurement of extremely subtle magnetic fields, on the basis of superconducting loops consisting of Josephson junctions. Sensors in SQUIDs are highly sensitive, which makes them useful for measuring weak bio-magnetic fields. Players operating in the global SQUID sensor market are installing these sensors in both types of SQUIDs i.e. direct current (DC) and radio frequency (RF) operated devices. RF SQUIDs are less sensitive than DC SQUIDs. DC SQUID sensors have high frequency response ranging from DC to a few GHz. RF SQUID sensors can work with only one Josephson junction, which makes the manufacture of end-products less expensive.

Key Drivers and Restraints of Global SQUID Sensor Market

• SQUID sensors are employed in a wide range of applications such as transportation; consumer electronics; banking, financial services, and insurance (BFSI); and healthcare. This is boosting the global SQUID sensor market.
• High sensitivity of SQUID sensors led by their superconductivity is a key driver of the global SQUID sensor market. This factor is expected to fuel the global SQUID sensor market during the forecast period.
• For a long time, superconducting quantum interference device (SQUID) magnetometers are being used for bio-magnetic studies. Increasing research on these magnetometers consisting of SQUID sensors is another major factor driving the global market for SQUID sensors.
• Superconductive devices function only at low temperatures. Low temperatures are usually maintained with the help of liquid helium. Storage and use of liquid helium requires special, thermally isolated Dewars (named after James Dewar). This factor is projected to hamper the global SQUID sensor market during the forecast period.

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